As the end of the year is in sight, generosity and its impact on each of our lives, often comes to mind. I appreciate the reminder that the holiday season brings, that giving can come in many different forms. From volunteering my time, to donating money to a cause I feel strongly about. Generosity in all of its forms can make a positive difference. There are so many benefits to giving! 

Ways to Give

Volunteering

Charities often express their desire for volunteers. To share the load with those who also value the greater cause and want to do their part to see growth and success! If you are not yet plugged into a charity where you can give the gift of your time and energy, I recommend finding one! (We will discuss specific charity ideas below.) 

Cash

Obviously cash on hand is a major help to organizations pursuing their cause. Covering costs to keep lights on, restock supplies and meeting the needs of those they help all add up! Carving consistent giving into your budget could create a relationship the charity could count on, creating perhaps opportunities for the organization to do more! 

Assets

Depending on your financial situation and how you feel led to give, you may be financially able to support your chosen charity with an asset. This could look like giving a real estate property or stock as a donation. Gifting your assets could save you on capital gains taxes. The charity could benefit from the potential gain of the asset. Or in a niche example, a homeless shelter could use the property as a location to serve meals. 

Legacy

Another way you can give to a charity you find yourself drawn to, is to name the charity in your Will or as a beneficiary. This means the charity would receive either finances or again, assets from you once you have passed. Leaving a legacy of generosity and widening the opportunities of those in need. 

The Benefits

Tax Benefits

The Tax benefits of giving to charities financially not only save you capital gains but you can receive tax credit. Canadahelps.org has a calculator that can give you an idea of how much tax credit eligibility you have accumulated over the year through your giving. The link is here. We also recommend talking to your tax advisor to calculate your tax benefits of donations, as everyone’s situation is different.

MORE Benefits!

There are so many benefits to generosity! Helping others in need, pursuing a great cause and doing your part all for the sake of someone else is reason enough to give. The benefits don’t stop there though, the sense of belonging and the all around good feelings are great perks too. Best of all, generosity is contagious! An act of kindness can spark generosity in others to do their part too. 

Ideas…

If you are not yet plugged into an organization that you can give to, here are some ideas that you may find intriguing. 

• Homeless shelters
• Food Banks/Meal Programs
• Health research groups
• Local church
• Societies (children, aid, animal rescue, etc.) 

Tis the Season

Those I think most highly of are known to be generous. As each of us are able to give, I believe it is our responsibility to do what we can for those who need help. Whether that be through our time, energy or resources, we each have something to give. The holiday season is a good reminder to plug back into our communities and do our part. 

Let us know your favorite charities in the comments and what makes them so great! Perhaps you will inspire a fellow reader to join your cause.